Q2 2025 · 13F-HR
Ruffer LLPholdings as filed
Filed 2025-07-16 · accession 0001426859-25-000007
$2.26B
Reported value
98
Positions
2025-06-30
Period end
The Brief · Ruffer LLP · Q2 2025
AI · grounded in 13F
Ruffer LLP established a new position in NEM worth $291.3M. The fund also initiated new stakes in SW for $196.1M and ABX for $191.9M. Additional new positions include AMZN at $160.3M and BAC at $136.5M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 651639106 | NEM | NEWMONT CORP | $291.3M | 12.9% | 4,999,932 | Common | SOLE |
| G8267P108 | SW | SMURFIT WESTROCK PLC | $196.1M | 8.68% | 4,544,710 | Common | SOLE |
| 067901108 | ABX | BARRICK GOLD CORP | $191.9M | 8.49% | 9,216,104 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $160.3M | 7.09% | 730,465 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $136.5M | 6.04% | 2,883,749 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $80.7M | 3.57% | 948,652 | Common | SOLE |
| 055622104 | BP | BP PLC | $68.7M | 3.04% | 2,294,330 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $59.4M | 2.63% | 336,846 | Common | SOLE |
| 783513203 | RYAAY | RYANAIR HOLDINGS PLC | $53.7M | 2.38% | 931,799 | Common | SOLE |
| G0378L100 | AU | ANGLOGOLD ASHANTI PLC | $52.3M | 2.31% | 1,146,968 | Common | SOLE |
| 152006102 | CGAU | CENTERRA GOLD INC | $51.6M | 2.28% | 7,153,309 | Common | SOLE |
| 29446Y502 | EQX | EQUINOX GOLD CORP | $43.3M | 1.91% | 7,499,601 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $38.9M | 1.72% | 342,672 | Common | SOLE |
| 04040Y109 | ARIS | ARIS MNG CORP | $35.3M | 1.56% | 5,239,248 | Common | SOLE |
| 867224107 | SU | SUNCOR ENERGY INC NEW | $34.8M | 1.54% | 929,257 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $33.9M | 1.50% | 1,399,513 | Common | SOLE |
| 46266C105 | IQV | IQVIA HLDGS INC | $32.8M | 1.45% | 207,887 | Common | SOLE |
| 192108504 | CDE | COEUR MNG INC | $32.3M | 1.43% | 3,644,401 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $29.8M | 1.32% | 276,717 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $29.6M | 1.31% | 130,711 | Common | SOLE |
| H01301128 | ALC | ALCON AG | $27.3M | 1.21% | 308,649 | Common | SOLE |
| 697900108 | PAAS | PAN AMERN SILVER CORP | $25.9M | 1.15% | 913,329 | Common | SOLE |
| 693475105 | PNC | PNC FINL SVCS GROUP INC | $24.3M | 1.08% | 130,619 | Common | SOLE |
| 36352H100 | GAU | GALIANO GOLD INC | $24.1M | 1.07% | 18,943,252 | Common | SOLE |
| 83056P715 | SKE | SKEENA RES LTD NEW | $24.1M | 1.06% | 1,511,655 | Common | SOLE |
| 369604301 | GE | GE AEROSPACE | $23.7M | 1.05% | 92,175 | Common | SOLE |
| 284902509 | EGO | ELDORADO GOLD CORP NEW | $22.2M | 0.98% | 1,093,553 | Common | SOLE |
| 163072101 | CAKE | CHEESECAKE FACTORY INC | $18.6M | 0.83% | 297,629 | Common | SOLE |
| 216648501 | COO | COOPER COS INC | $17.6M | 0.78% | 247,662 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $17.1M | 0.76% | 94,109 | Common | SOLE |
| 962879102 | WPM | WHEATON PRECIOUS METALS CORP | $17.0M | 0.75% | 189,484 | Common | SOLE |
| 496902404 | KGC | KINROSS GOLD CORP | $14.7M | 0.65% | 940,837 | Common | SOLE |
| 35137L105 | FOXA | FOX CORP | $12.9M | 0.57% | 230,258 | Common | SOLE |
| 042735100 | ARW | ARROW ELECTRS INC | $12.3M | 0.54% | 96,253 | Common | SOLE |
| 11777Q209 | BTG | B2GOLD CORP | $12.3M | 0.54% | 3,395,988 | Common | SOLE |
| 460690100 | IPG | INTERPUBLIC GROUP COS INC | $12.2M | 0.54% | 497,484 | Common | SOLE |
| 87162W100 | SNX | TD SYNNEX CORPORATION | $11.7M | 0.52% | 85,976 | Common | SOLE |
| 01921D204 | AAUC | ALLIED GOLD CORP | $10.7M | 0.47% | 793,940 | Common | SOLE |
| 668771108 | GEN | GEN DIGITAL INC | $10.5M | 0.47% | 357,900 | Common | SOLE |
| 72147K108 | PPC | PILGRIMS PRIDE CORP | $10.2M | 0.45% | 226,137 | Common | SOLE |
| 69047Q102 | OVV | OVINTIV INC | $9.7M | 0.43% | 256,076 | Common | SOLE |
| 42824C109 | HPE | HEWLETT PACKARD ENTERPRISE C | $9.0M | 0.40% | 440,760 | Common | SOLE |
| 15872M104 | APY1EUR | CHAMPIONX CORPORATION | $8.9M | 0.39% | 359,032 | Common | SOLE |
| 57667L107 | MTCH | MATCH GROUP INC NEW | $8.8M | 0.39% | 285,867 | Common | SOLE |
| 60871R209 | TAP | MOLSON COORS BEVERAGE CO | $8.8M | 0.39% | 183,014 | Common | SOLE |
| G65431127 | NE | NOBLE CORP PLC | $7.6M | 0.34% | 285,719 | Common | SOLE |
| 577933104 | MMS | MAXIMUS INC | $7.3M | 0.32% | 104,359 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $7.2M | 0.32% | 90,932 | Common | SOLE |
| 099724106 | BWA | BORGWARNER INC | $7.1M | 0.32% | 213,507 | Common | SOLE |
| 093671105 | HRB | BLOCK H & R INC | $6.9M | 0.30% | 125,597 | Common | SOLE |
| 00108J109 | ACMR | ACM RESH INC | $6.9M | 0.30% | 264,706 | Common | SOLE |
| 258278100 | DORM | DORMAN PRODS INC | $6.8M | 0.30% | 55,616 | Common | SOLE |
| 889478103 | TOL | TOLL BROTHERS INC | $6.7M | 0.30% | 58,679 | Common | SOLE |
| 745867101 | PHM | PULTE GROUP INC | $6.6M | 0.29% | 62,701 | Common | SOLE |
| G3922B107 | G | GENPACT LIMITED | $6.5M | 0.29% | 147,560 | Common | SOLE |
| 103304101 | BYD | BOYD GAMING CORP | $6.5M | 0.29% | 82,717 | Common | SOLE |
| G7709Q104 | RPRX | ROYALTY PHARMA PLC | $6.4M | 0.28% | 177,931 | Common | SOLE |
| 87724P106 | TMHC | TAYLOR MORRISON HOME CORP | $6.2M | 0.28% | 101,520 | Common | SOLE |
| P31076105 | CPA | COPA HOLDINGS SA | $6.2M | 0.27% | 56,488 | Common | SOLE |
| 644535106 | NGDN | NEW GOLD INC CDA | $5.9M | 0.26% | 1,200,134 | Common | SOLE |
| 48666K109 | KBH | KB HOME | $5.7M | 0.25% | 107,751 | Common | SOLE |
| 29275Y102 | ENS | ENERSYS | $5.6M | 0.25% | 65,344 | Common | SOLE |
| 624756102 | MLI | MUELLER INDS INC | $5.6M | 0.25% | 70,076 | Common | SOLE |
| 375558103 | GILD | GILEAD SCIENCES INC | $5.0M | 0.22% | 45,097 | Common | SOLE |
| 039483102 | ADM | ARCHER DANIELS MIDLAND CO | $5.0M | 0.22% | 93,910 | Common | SOLE |
| 45826T509 | ITRG | INTEGRA RES CORP | $4.9M | 0.22% | 3,243,153 | Common | SOLE |
| 749527107 | 1RG | REV GROUP INC | $4.9M | 0.22% | 102,398 | Common | SOLE |
| 45337C102 | INCY | INCYTE CORP | $4.7M | 0.21% | 69,325 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $4.4M | 0.19% | 9,000 | Common | SOLE |
| 688239201 | OSK | OSHKOSH CORP | $4.0M | 0.18% | 34,886 | Common | SOLE |
| 690742101 | OC | OWENS CORNING NEW | $3.9M | 0.17% | 28,564 | Common | SOLE |
| 739128106 | POWL | POWELL INDS INC | $3.6M | 0.16% | 17,271 | Common | SOLE |
| 11271J107 | BN | BROOKFIELD CORP | $3.5M | 0.15% | 56,500 | Common | SOLE |
| 57686G105 | MATX | MATSON INC | $3.4M | 0.15% | 30,740 | Common | SOLE |
| 30161Q104 | EXEL | EXELIXIS INC | $3.4M | 0.15% | 76,310 | Common | SOLE |
| 29260V105 | DAVA | ENDAVA PLC | $3.2M | 0.14% | 209,187 | Common | SOLE |
| 91307C102 | UTHR | UNITED THERAPEUTICS CORP DEL | $3.1M | 0.14% | 10,763 | Common | SOLE |
| 03524A108 | BUD | ANHEUSER BUSCH INBEV SA/NV | $3.1M | 0.14% | 45,000 | Common | SOLE |
| 398433102 | GFF | GRIFFON CORP | $3.0M | 0.13% | 41,320 | Common | SOLE |
| 413197104 | HRMY | HARMONY BIOSCIENCES HLDGS IN | $2.7M | 0.12% | 86,211 | Common | SOLE |
| 008474108 | AEM | AGNICO EAGLE MINES LTD | $2.7M | 0.12% | 22,679 | Common | SOLE |
| 20030N101 | CMCSA | COMCAST CORP NEW | $2.7M | 0.12% | 74,875 | Common | SOLE |
| 55261F104 | MTB | M & T BK CORP | $2.5M | 0.11% | 13,020 | Common | SOLE |
| 40637H109 | HALO | HALOZYME THERAPEUTICS INC | $2.3M | 0.10% | 43,428 | Common | SOLE |
| 88031M109 | TS | TENARIS S A | $2.2M | 0.10% | 59,349 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $2.0M | 0.09% | 7,000 | Common | SOLE |
| 80013R206 | AYS1 | SANDSTORM GOLD LTD | $2.0M | 0.09% | 210,090 | Common | SOLE |
| 450913108 | IAG | IAMGOLD CORP | $1.9M | 0.08% | 258,300 | Common | SOLE |
| 66987E206 | NG | NOVAGOLD RES INC | $1.7M | 0.08% | 423,670 | Common | SOLE |
| 054540208 | ACLS | AXCELIS TECHNOLOGIES INC | $1.7M | 0.08% | 24,731 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $1.6M | 0.07% | 11,000 | Common | SOLE |
| 086516101 | BBY | BEST BUY INC | $1.4M | 0.06% | 20,407 | Common | SOLE |
| G0457F107 | ARCO | ARCOS DORADOS HOLDINGS INC | $1.0M | 0.04% | 127,142 | Common | SOLE |
| 343412102 | FLR | FLUOR CORP NEW | $953,109 | 0.04% | 18,590 | Common | SOLE |
| 344419106 | FMX | FOMENTO ECONOMICO MEXICANO S | $823,840 | 0.04% | 8,000 | Common | SOLE |
| 38149E101 | GLDG | GOLDMINING INC | $649,862 | 0.03% | 901,996 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO CO NEW | $400,600 | 0.02% | 5,000 | Common | SOLE |
| 27579R104 | EWBC | EAST WEST BANCORP INC | $392,812 | 0.02% | 3,890 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.